COMPANIES AND ALLIED MATTERS ACT, 2020

Section 461: Effect of moratorium on the appointment of administrator.

2020Section 461 of 870Federal Republic of Nigeria

(1) If a moratorium for a company under this Part and any supportive schedule ends on a date when no voluntary arrangement is in effect in respect of the company, this section applies for the period of 12 months beginning with that date.
(2) This section also applies for the period of 12 months beginning with the date on which a voluntary arrangement in respect of a company ends, where the arrangement—
(a) was made during a moratorium for the company under this Part; and
(b) ends prematurely.
(3) While this section applies, an administrator of the company shall not be appointed under section 450 of this Act.

Cite this section

Section 461, COMPANIES AND ALLIED MATTERS ACT, 2020 (2020).

https://repo.podus.ai/laws/companies-and-allied-matters-act-2020/section/461/